February 09, 2007
PR No. 50/2007
Order against Shri Puren Kishore Srivastava in the matter of M/s. Software Technology Group International Ltd.
Shri G.Anantharaman, Whole Time Member, SEBI, has passed an order dated February 08, 2007, against Shri Puran Kishore Srivastava in the matter of M/s. Software Technology Group International Ltd.
Shri Puran Kishore Srivastava has been restrained from accessing the securities market and has been prohibited from buying, selling or dealing in securities for a period of three months.
Shri Puran Kishore Srivastava has been found guilty of violating the provisions of Regulation 4 (a), (b) and (c) of Securities and Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices Relating to Securities Market) Regulations, 1995 as the transactions by Shri Puran Kishore Srivastava have created artificial volumes besides causing a spurt in the price of the scrip of M/s. Software Technology Group International Ltd. while inducing unsuspecting investors to trade in the scrip at artificial prices.
Mumbai
February 09, 2007
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